Weber: Rate moves not subject to FX considerations

Bundesbank president and European Central Bank council member Axel Weber said Friday 9 June that the ECB cannot make interest rate decisions with reference to the level of the euro.

'It is important as a matter of principle that there is no subordination of monetary policy to exchange rate considerations,' he said in a speech at a central bankers' conference.

Weber told the conference that central bankers have to continue arguing for more structural reforms to raise the eurozone's potential growth

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